Comment from the Allsop Commercial Auction 25 May 2022

Comment from the Allsop Commercial Auction 25 May 2022
6th June 2022 samantha
In Uncategorised

Despite a 40 year high inflation rate and 13 year high interest rates, it was very much business as usual.  We saw a 25% increase in the number of bidders compared to our March auction and this, combined with a very positive market sentiment, led to competitive bidding on 80% of the lots we sold.  Moreover, 23 lots achieved net initial yields at or below 5% and 33 lots sold for in excess of £1m. Well located, well let and mixed use properties were all again popular, as were those let at sustainable rents and those with value add opportunities. In total £70m of retail property was sold.

With no shortage of demand in the market at the moment, we maintain our view that limited supply together with the ability of property to generate an income, modest savings rates and a market predominantly driven by cash investors, will continue to support prices, particularly for the most popular properties.  And this is clearly creating very favourable market conditions for sellers.

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